Negotiations between Member of Region’s Government and Management of RussNeft
Today on January 17 a meeting was held between Governor Alexei Chernyshov and President of RussNeft Mikhail Gutseriev, as well as negotiations between the members of regional government and the company management on cooperation of the parties in the matters of social and economic development of the Orenburg region.
On December 22, 2005 Oil Company RussNeft OAO assumed operational control over the assets bought from TNK-BP of which Orsknefteorgsintez OAO, Orenburgnefteprodukt OAO and Neftemaslozavod OAO are found in the Orenburg region.
Alexei Chernysov emphasized that these enterprises were important constituents of the regional economy. Orsknefteorgsintez is per se the local economic mainstay; therefore the attitude of RussNeft towards the future of the enterprise is important for the Orenburg region. The head of the region noted with approval that the management of the holding company was going to develop Orsknefteorgsintez as a basic oil refining element of the company, invest funds in its further reconstruction, and increase the depth of oil processing.
The Governor informed that in February a cooperation agreement between the administration of the region and the company should be concluded. The cooperation agreement will specify mutual commitments of the parties including participation of RussNeft in joint financing of social programs. He was referring first of all to the construction of sport facilities in the region.
Mikhail Gutseriev said that concurrently with finalizing the cooperation agreement his company was going to submit its investment program of developing Orsknefteorgsintez to Governor Alexei Chernyshov.
“In 2006 we are going to invest $50 million in the enterprise in order to bring the output of the refinery in compliance with the international quality standards. In the coming five years we plan to annually invest $50 million in its development, increase the depth of oil processing and operate the refinery close to its full capacity, i.e. 5 or 6 million tons of crude oil a year,” said President of RussNeft. The Orenburg region is the basic element for developing the company’s oil refining complex; therefore the cooperation with the administration of the region is long-term and of strategic character.
Alexei Chernyshov said the government of the region was going to support the company in its operations in the Orenburg region provided the conditions of the upcoming agreement were fulfilled.
Alexei Chernysov emphasized that these enterprises were important constituents of the regional economy. Orsknefteorgsintez is per se the local economic mainstay; therefore the attitude of RussNeft towards the future of the enterprise is important for the Orenburg region. The head of the region noted with approval that the management of the holding company was going to develop Orsknefteorgsintez as a basic oil refining element of the company, invest funds in its further reconstruction, and increase the depth of oil processing.
The Governor informed that in February a cooperation agreement between the administration of the region and the company should be concluded. The cooperation agreement will specify mutual commitments of the parties including participation of RussNeft in joint financing of social programs. He was referring first of all to the construction of sport facilities in the region.
Mikhail Gutseriev said that concurrently with finalizing the cooperation agreement his company was going to submit its investment program of developing Orsknefteorgsintez to Governor Alexei Chernyshov.
“In 2006 we are going to invest $50 million in the enterprise in order to bring the output of the refinery in compliance with the international quality standards. In the coming five years we plan to annually invest $50 million in its development, increase the depth of oil processing and operate the refinery close to its full capacity, i.e. 5 or 6 million tons of crude oil a year,” said President of RussNeft. The Orenburg region is the basic element for developing the company’s oil refining complex; therefore the cooperation with the administration of the region is long-term and of strategic character.
Alexei Chernyshov said the government of the region was going to support the company in its operations in the Orenburg region provided the conditions of the upcoming agreement were fulfilled.
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